At this point in the offseason, the Chicago Bulls have basically wrapped up their business.
They still have their 15th roster spot open, but with potential two-way contributors in Tobe Awaka and Jaylin Sellers in the fold, it's likely they leave that spot open for a potential buyout or two-way conversion opportunity. They've already majorly added to their young core this offseason with their additions of Caleb Wilson and Dailyn Swain, and their acquisitions of Nic Claxton and Norman Powell should help keep this roster afloat in the NBA's new '3-2-1' lottery system.
In short, they don't need to make any more moves this offseason— at least as long as the perfect opportunity doesn't present itself.
The catch here is that a sign-and-trade for the Denver Nuggets' Peyton Watson, depending on the price, could be the right opportunity for Chicago. He fits perfectly into their vision of defense and athleticism across the roster, and he's still got ample room to develop as a 23-year-old wing. The Bulls might just have the contracts and the draft capital to get it done.
But unless that sweepstakes somehow swings in their favor, they simply can't afford to sacrifice their expiring contracts this offseason. If a move for Watson doesn't work out, it's time to hold their cards until the trade deadline.
A potential Peyton Watson sign-and-trade is the only move worth pursuing for the Bulls this offseason
Watson would be an almost unimaginably perfect fit for this young core in Chicago. He took a major leap as a both a scorer and a defender last season stepping into a bigger role with the Nuggets, averaging 14.6 points, 4.9 rebounds, and 2.1 assists while shooting 49.1% from the field and 41.1% from beyond the arc.
That's a player almost any team would love to have, and it's shown in his market this offseason. The Cleveland Cavaliers, Los Angeles Clippers, and Milwaukee Bucks are seen as the most serious suitors. But there are numerous teams, including the Bulls, who are likely lurking in the shadows waiting to see how everything unfolds.
In theory, Chicago has the contracts to get a deal done. Teams can only take back half of the player's annual value in sign-and-trades, so it would take somewhere between $12 and $15 million (likely in expiring salary) to complete a Watson trade. The Bulls could get that done with some combination of Isaac Okoro, Jalen Smith, Tre Jones, and Leonard Miller plus a slew of draft capital.
In truth, that likely won't be enough to beat out any of Watson's primary suitors. The Nuggets reportedly want an impactful player in any Watson sign-and-trade, and it's hard to tell whether Jones or Okoro fits that bill for Denver.
A deal for Watson, at this point in the offseason, is likely just a pipe dream for Chicago. But these assets could mean much more by the time we reach the trade deadline. Teams across the league will be looking for additional ball-handling, perimeter shooting, and rebounding, and Chicago needs to maintain their flexibility with these contracts in order to start amassing future draft capital.
Watson is likely the only piece on the market worth sacrificing that flexibility for (including Bennedict Mathurin, whom Chicago has been tepidly linked to this offseason).
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